EquityPandit’s Outlook for HDFC Bank for the week (May 13, 2019 – May 17,2019):

HDFC BANK:

HDFC Bank Ltd.

BSE: 500180| NSE: HDFCBANK| ISIN: INE040A01026| SECTOR: BANKS

Stock closed the week on negative note losing -3.04%

Week High: 2,368.80

Week Low: 2,291.20

Week Range: 77.60 Points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 2280- 2275 levels, Minor resistance on the upside is capped around 2330– 2335 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 2230– 2240 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 2370– 2380

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 2370– 2380 on upside and 2230– 2240 on downside.